The general contractor invoice is designated for the billing of materials and services for construction-related projects. Depending on the construction project and agreement, the invoice may be due before, during (installments), or when the services are completed.
A general contractor is hired to manage the day-to-day operations of a construction project. From small jobs to large commercial undertakings, a general contractor supervises each component of the project, which includes hiring and managing subcontractors, obtaining materials, client communications, and much more. Every stage of the build flows through the general contractor, and they’re essential to ensuring that each stage is completed on time.
When taking on a job, a general contractor will make a bid. The bid amount is their price to complete the entire job. When making this bid, the general contractor weighs in all factors such as materials, labor, subcontractors, and their profit.
In addition to construction, most general contractors have an understanding of the following:
- Obtaining building permits
- Construction safety
Conditions for obtaining a general contractor’s license vary from state to state. Even if certain states do not require a license, it’s likely that city or county ordinances will require contractors that work within the jurisdiction to be licensed. Moreover, some states may require a license to take on a job that exceeds a certain dollar amount. For example, if you are a general contractor in Alabama taking on a $50,000 job, you will need a license.
In order to obtain a general contractor’s license, you will need the following:
- EIN Number – A number issued by the IRS that proves your company is registered with your local state.
- Liability Insurance – The required insurance amount depends on local regulations.
- A Surety Bond or proof of savings up to the required amount.
- Proof of past work experience.
- Salary: $70,540/yr
- Hourly Rate: $33.91/hr